Salomon & Ludwin LLC Lowers Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Salomon & Ludwin LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 36.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,058 shares of the network equipment provider’s stock after selling 2,326 shares during the quarter. Salomon & Ludwin LLC’s holdings in Cisco Systems were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. First Financial Bankshares Inc raised its holdings in shares of Cisco Systems by 0.9% in the third quarter. First Financial Bankshares Inc now owns 987,077 shares of the network equipment provider’s stock valued at $52,532,000 after acquiring an additional 9,045 shares in the last quarter. Pointe Capital Management LLC raised its holdings in shares of Cisco Systems by 3.8% in the 3rd quarter. Pointe Capital Management LLC now owns 19,326 shares of the network equipment provider’s stock valued at $1,029,000 after purchasing an additional 701 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Cisco Systems by 34.5% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,561 shares of the network equipment provider’s stock worth $76,000 after purchasing an additional 400 shares during the period. Motiv8 Investments LLC boosted its stake in shares of Cisco Systems by 20.0% during the third quarter. Motiv8 Investments LLC now owns 17,947 shares of the network equipment provider’s stock valued at $955,000 after purchasing an additional 2,987 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in shares of Cisco Systems by 3.1% during the third quarter. Financial Management Professionals Inc. now owns 9,852 shares of the network equipment provider’s stock valued at $524,000 after purchasing an additional 295 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. Barclays lowered their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Finally, Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $56.74.

Cisco Systems Stock Down 0.4 %

CSCO stock opened at $55.74 on Monday. The company has a market capitalization of $224.57 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $57.06. The firm’s fifty day simple moving average is $52.12 and its 200-day simple moving average is $48.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.